Rangers are in desperate need of central midfielders as Graeme Murty has quite the selection headache on his hands with Graham Dorrans, Ryan Jack and Jordan Rossiter all injured.

With just under three weeks left to run of the January transfer window, the Light Blues need to strengthen that position above all else – otherwise Andy Halliday may become a key first-team player after the winter break has ended.

That fee is surely affordable for cash-strapped Rangers, who would not only be making a signing that can solve Murty’s immediate headache, but could also be one that for years to come could work out to be one of the best signings in the post-financial meltdown era.

Cochrane is only 16, but is already tearing up the Scottish Premiership.

The midfielder dismantled Celtic when Hearts ended the champion’s 69-game unbeaten run in December when Craig Levein’s side won 4-0 at Tynecastle.

Cochrane was on the scoresheet for that match for what was the first time in his professional career.

For £500,000, the teenage sensation would be the perfect piece of business for Rangers this month.

But with vultures circling from south of the border, the Light Blues will have to submit a worthy bid sooner rather than later.